Here Are Four Crypto Assets Poised For A Major Price Explosion – Analyst
2023年12月3日 - 5:49PM
NEWSBTC
The general crypto market has recorded a slight boost in the last
week as market leader Bitcoin surged by 4.44% to trade above the
$39,000 price mark. As bullish sentiments continue to rise, popular
crypto analyst Austin Arnold has now highlighted four tokens that
offer investors a high potential for profitability in the coming
weeks. Related Reading: Top 5 Cryptos Set For A Price Explosion
This December – ADA, TIA, RUNE, LUNC, BTC Top Crypto Tokens Set For
A Massive Price Rally – Austin Arnold Speaking in a recently
published video on his YouTube channel Altcoin Daily, Arnold stated
that certain tokens are “set to rip through the crypto markets.”
The first cryptocurrency he highlights is Injective (INJ), a layer
1 blockchain and decentralized protocol backed by Binance, Pantera,
and renowned tech billionaire Mark Cuban. Arnold states that
Injective’s potential for a massive price surge is tied to multiple
factors, including its impressive tokenomics facilitated by its
buyback and burn auction system. This is a process in which
Injective utilizes 60% of all fees collected across its multiple
native dApps to buy back INJ from the market. The bought INJ is
then burned, allowing the token to maintain a controlled supply and
increase market value. Furthermore, Injective currently
possesses one of the lowest network fees in the market, which is
considered an attractive feature for most users and developers. In
addition, the Cosmos-SDK built protocol is also set to undergo its
largest mainnet upgrade – Volan Upgrade – in the next few weeks.
Joining Injective on Arnold’s list is Chainlink (LINK), an
Ethereum-based decentralized blockchain oracle network. The crypto
analyst notes that Chainlink recently celebrated a milestone of
2,000 integrations and projects, which only underlines the
network’s appeal to developers and the wider crypto
community. Furthermore, Arnold lauds Chainlink for its
multiple strategic partnerships with major traditional
institutions, including the SWIFT banking system and the Depository
Trust and Clearing Corporation (DTCC), which could drive
institutional adoption of the crypto project. In addition,
Chainlink recently launched an upgraded staking mechanism, which
introduces greater flexibility, better security guarantees for
oracle services, and a modular architecture, all of which Arnold
believes’ contributes to the cryptocurrency’s potential for massive
price gain soon. Related Reading: XRP Price Set To Explode: Analyst
Identifies Trigger For Next Parabolic Move Bitcoin And Ethereum
Await Spot ETF Boost The final cryptocurrencies on Austen Arnold’s
list are, unsurprisingly, the two biggest assets in the market,
namely Bitcoin and Ethereum. For Bitcoin, The crypto analyst notes
that crypto whales have been stocking up their supply of the
premier cryptocurrency, citing an example of Michael Saylor’s
Microstrategy. In addition, he also references an impending rise in
BTC’s institutional demand, which hinges on the approval of a spot
exchange-traded fund (ETF). In addition, Arnold pinpoints there is
also a rising interest in Ethereum as more asset managers continue
to approach the US Securities and Exchange Commission with
applications to launch an Ether Spot ETF. This development
was revealed by American investor Ric Edelman, who personally
claims to be more excited about Ethereum than Bitcoin, as it offers
more technological capability and commercial applications.
BTC trading at $39,491 on the daily chart | Source: BTCUSD chart on
Tradingview.com Featured image from iStock, chart from Tradingview
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